coinpedia.org
Bitcoin price today jumped beyond $93,000 after bullish sentiment grew across the crypto market. Recent data from on-chain analytics firm CryptoQuant shows that Bitcoin reserves on Binance continue to fall, even while the price climbs.
With less Bitcoin available to sell, prominent crypto trader TED pillows predicts Bitcoin to surge towards $100K.
Why Binance’s Bitcoin Reserves Keep Falling
According to CryptoQuant, Bitcoin reserves on Binance are shrinking, even while BTC trades near $93,000. At first glance, some traders worry that fewer coins on exchanges means people are preparing to sell. But in reality, this decline is usually seen during strong bullish phases.
One major reason is the rise of self-custody.
When prices go up, long-term believers and whales typically move their Bitcoin into private cold wallets. This means they are not planning to sell anytime soon.
As of now, Bitcoin is testing a very important resistance zone between $92,000 and $94,000. If Bitcoin manages to close above this level cleanly, momentum could accelerate fast and push BTC toward the next major target, the $100,000 mark.
Ted highlights $88,000–$89,000 as the nearest strong support area where buyers may step in again to stop a deeper correction.